Orion Energy Systems, Inc. (OESX) Balance Sheet
OESX balance sheet, FY2026
March 31, 2026 · U.S. dollars$51.6M assets = $35.0M liabilities + $16.6M equity
Both columns are drawn to the same scale: what OESX owns equals what it owes plus shareholders’ equity. Hover a block for its value.
OESX financial health
Descriptive bands, not a rating. Fiscal FY2026.
OESX balance sheet trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $62.1MFY2017 | $51.6MFY2026 | −2.0%/yr | |
| Total liabilities | $26.6MFY2017 | $35.0MFY2026 | +3.1%/yr | |
| Shareholders’ equity | $35.5MFY2017 | $16.6MFY2026 | −8.1%/yr | |
| Cash & short-term investments | $17.3MFY2017 | $3.27BFY2026 | +79.0%/yr | |
| Total debt | $7.0MFY2017 | $8.8MFY2026 | +2.6%/yr | |
| Net cash (debt) | $10.3MFY2017 | $3.26BFY2026 | +$3.2B | |
| Working capital | $25.5MFY2017 | $11.0MFY2026 | −$14.5M | |
| Book value per share | $12.59FY2017 | $4.67FY2026 | −10.4%/yr | |
| Current ratio | 2.39FY2017 | 1.41FY2026 | −0.97 | |
| Debt / equity | 0.20FY2017 | 0.53FY2026 | +0.33 | |
| Shares outstanding | 2.8MFY2017 | 3.6MFY2026 | +2.6%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
OESX assets
OESX liabilities and equity
OESX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
OESX balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $3.27B | $6.0M | $5.2M | $16.0M | $14.5M | $19.4M | $28.8M | $8.7M | $9.4M | $17.3M |
| Cash & equivalents | $3.27B | $6.0M | $5.2M | $16.0M | $14.5M | $19.4M | $28.8M | $8.7M | $9.4M | $17.3M |
| Short-term investments | — | — | — | — | — | — | — | — | $0 | $0 |
| Receivables | $22.7M | $16.2M | $18.6M | $15.0M | $15.9M | $16.5M | $11.0M | $18.6M | $10.6M | $11.4M |
| Inventory | $10.30B | $11.4M | $18.2M | $18.2M | $19.8M | $19.6M | $14.5M | $13.4M | $7.8M | $13.6M |
| Other current assets | $0 | $1.9M | $2.9M | $1.1M | $1.0M | $1.1M | $723,000 | $695,000 | $1.6M | $1.6M |
| Total current assets | $37.7M | $35.5M | $44.8M | $50.4M | $51.2M | $56.5M | $55.0M | $41.4M | $29.5M | $43.9M |
| Property, plant & equipment (net) | $6.11B | $8.0M | $11.4M | $10.5M | $13.9M | $14.0M | $11.8M | $12.0M | $12.9M | $13.8M |
| Goodwill & intangible assets | $4.13B | $4.9M | $5.9M | $7.5M | $2.8M | $2.0M | $2.2M | $2.5M | $2.9M | $4.2M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $760,000 | $0 | $0 | $5,000 |
| Other non-current assets | $0 | $4.1M | $1.0M | $3.3M | $18.9M | $20.4M | $2.8M | $165,000 | $110,000 | $170,000 |
| Total assets | $51.6M | $52.5M | $63.2M | $71.6M | $86.8M | $92.8M | $72.6M | $56.0M | $45.3M | $62.1M |
| Liabilities | ||||||||||
| Accounts payable | $15.5M | $13.3M | $18.4M | $13.4M | $9.9M | $17.0M | $19.8M | $19.7M | $11.7M | $11.6M |
| Short-term debt | $1.1M | $353,000 | $993,000 | $17,000 | $784,000 | $661,000 | $726,000 | $96,000 | $79,000 | $152,000 |
| Deferred revenue | $155,000 | $491,000 | $260,000 | $480,000 | $76,000 | $87,000 | $107,000 | $123,000 | $499,000 | $621,000 |
| Total current liabilities | $26.7M | $26.8M | $28.1M | $24.5M | $18.4M | $30.4M | $27.2M | $27.3M | $16.4M | $18.4M |
| Long-term debt | $5.6M | $10.0M | $10.0M | $10.0M | $19,000 | $35,000 | $10.0M | $9.3M | $4.0M | $6.8M |
| Lease obligations | — | — | — | $1.8M | $3.0M | $2.6M | $3.5M | — | — | — |
| Other long-term liabilities | $2.7M | $3.8M | $2.6M | $3.9M | $3.3M | $4.3M | $4.3M | $1.4M | $1.5M | $1.4M |
| Total liabilities | $35.0M | $40.6M | $40.6M | $38.3M | $21.7M | $34.7M | $41.5M | $38.1M | $21.9M | $26.6M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | −$34.96B | — | — | −$36.2M | $0 | $0 | $1 | −$36.1M | −$36.1M | −$36.1M |
| Retained earnings (deficit) | −$118.1M | −$114.9M | −$103.1M | −$91.4M | −$57.1M | −$63.2M | −$89.3M | −$101.8M | −$95.5M | −$82.4M |
| Treasury stock | — | — | — | — | — | — | −$36.2M | −$36.1M | −$36.1M | −$36.1M |
| Accumulated other comprehensive income | — | — | — | $0 | $0 | $0 | $0 | −$22.5M | −$21.3M | −$19.9M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $16.6M | $11.9M | $22.5M | $33.2M | $65.1M | $58.1M | $31.0M | $18.0M | $23.4M | $35.5M |
| Key figures | ||||||||||
| Total debt | $8.8M | $10.3M | $12.1M | $11.8M | $3.1M | $3.3M | $13.6M | $9.4M | $4.1M | $7.0M |
| Net cash (debt) | $3.26B | −$4.4M | −$7.0M | $4.1M | $11.4M | $16.1M | $15.1M | −$650,000 | $5.3M | $10.3M |
| Working capital | $11.0M | $8.7M | $16.8M | $25.9M | $32.9M | $26.2M | $27.8M | $14.0M | $13.0M | $25.5M |
| Tangible book value | −$4.11B | $7.0M | $16.6M | $25.8M | $62.3M | $56.1M | $28.8M | $15.5M | $20.6M | $31.2M |
| Book value per share | $4.67 | $3.62 | $6.94 | $10.49 | $20.80 | $18.55 | $10.02 | $6.11 | $8.14 | $12.59 |
| Shares outstanding | 3.6M | 3.3M | 3.2M | 3.2M | 3.1M | 3.1M | 3.1M | 2.9M | 2.9M | 2.8M |
| Current ratio | 1.41 | 1.32 | 1.60 | 2.06 | 2.79 | 1.86 | 2.02 | 1.51 | 1.79 | 2.39 |
| Quick ratio | 123.20 | 0.83 | 0.85 | 1.27 | 1.65 | 1.18 | 1.46 | 1.00 | 1.22 | 1.56 |
| Debt / equity | 0.53 | 0.87 | 0.54 | 0.36 | 0.05 | 0.06 | 0.44 | 0.52 | 0.17 | 0.20 |
| Equity / assets | 32.2% | 22.7% | 35.7% | 46.5% | 75.0% | 62.6% | 42.8% | 32.1% | 51.7% | 57.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $5.2M | $3.27B | $4.7M | $5.2M | $3.6M | $6.0M | $7.5M | $5.4M | $5.7M | $5.2M | $5.0M | $4.0M |
| Cash & equivalents | $5.2M | $3.27B | $4.7M | $5.2M | $3.6M | $6.0M | $7.5M | $5.4M | $5.7M | $5.2M | $5.0M | $4.0M |
| Short-term investments | — | — | — | — | — | — | — | $5.36B | — | — | — | — |
| Receivables | $21.8M | $22.7M | $16.9M | $15.3M | $17.0M | $16.2M | $14.4M | $17.6M | $17.3M | $18.6M | $17.4M | $17.9M |
| Inventory | $10.4M | $10.30B | $9.9M | $10.4M | $10.3M | $11.4M | $13.5M | $15.0M | $15.9M | $18.2M | $20.8M | $20.2M |
| Other current assets | $1.9M | $0 | $1.4M | $1.1M | $1.8M | $1.9M | $1.7M | $1.9M | $3.3M | $2.9M | $2.5M | $3.2M |
| Total current assets | $39.2M | $37.7M | $32.8M | $32.0M | $32.7M | $35.5M | $37.1M | $40.0M | $42.1M | $44.8M | $45.7M | $45.3M |
| Property, plant & equipment (net) | $8.9M | $6.11B | $7.4M | $7.8M | $7.8M | $8.0M | $8.4M | $8.7M | $9.3M | $9.6M | $10.0M | $10.4M |
| Goodwill & intangible assets | $4.0M | $4.13B | $4.3M | $4.4M | $4.6M | $4.9M | $5.2M | $5.5M | $5.7M | $5.9M | $6.7M | $6.9M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $1.2M | $0 | $3.8M | $3.7M | $3.9M | $4.1M | $2.0M | $2.2M | $2.6M | $2.8M | $3.0M | $3.2M |
| Total assets | $53.3M | $51.6M | $48.3M | $47.9M | $49.0M | $52.5M | $52.7M | $56.3M | $59.8M | $63.2M | $65.4M | $65.8M |
| Liabilities | ||||||||||||
| Accounts payable | $15.5M | $15.5M | $14.5M | $13.5M | $12.6M | $13.3M | $13.4M | $14.4M | $14.4M | $18.4M | $18.9M | $15.6M |
| Short-term debt | $1.1M | $1.1M | $803,000 | $653,000 | $353,000 | $353,000 | $353,000 | $352,000 | $264,000 | $3,000 | $7,000 | $12,000 |
| Deferred revenue | $96,000 | $155,000 | $190,000 | $338,000 | $441,000 | $491,000 | $287,000 | $359,000 | $245,000 | $260,000 | $172,000 | $1.9M |
| Total current liabilities | $25.6M | $26.7M | $24.2M | $23.9M | $26.6M | $26.8M | $26.6M | $26.9M | $24.8M | $28.1M | $30.7M | $29.0M |
| Long-term debt | $6.3M | $5.6M | $9.0M | $9.2M | $8.1M | $10.0M | $10.6M | $12.2M | $13.3M | $10.0M | $10.0M | $10.0M |
| Other long-term liabilities | $2.7M | $2.7M | $3.1M | $3.3M | $3.5M | $3.8M | $1.1M | $1.4M | $2.6M | $2.6M | $4.0M | $4.1M |
| Total liabilities | $34.6M | $35.0M | $36.4M | $36.5M | $38.2M | $40.6M | $38.2M | $40.5M | $40.7M | $40.6M | $44.8M | $43.2M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | −$34.96B | −$34.96B | −$34.9M | −$35.25B | −$36.2M | — | — | — | — | — | — | — |
| Retained earnings (deficit) | −$116.1M | −$118.1M | −$116.6M | −$116.7M | −$116.1M | −$114.9M | −$112.0M | −$110.5M | −$106.8M | −$103.1M | −$104.7M | −$102.4M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | $0 | — | $0 | $0 |
| Total shareholders' equity | $18.7M | $16.6M | $11.8M | $11.4M | $10.8M | $11.9M | $14.5M | $15.8M | $19.1M | $22.5M | $20.7M | $22.6M |
| Key figures | ||||||||||||
| Total debt | $6.6M | $8.8M | $9.8M | $9.9M | $8.5M | $10.3M | $10.9M | $12.5M | $13.5M | $10.0M | $10.0M | $10.0M |
| Net cash (debt) | −$1.4M | $3.26B | −$5.1M | −$4.7M | −$4.9M | −$4.4M | −$3.4M | −$7.2M | −$7.8M | −$4.8M | −$5.0M | −$6.0M |
| Working capital | $13.7M | $11.0M | $8.6M | $8.1M | $6.1M | $8.7M | $10.5M | $13.1M | $17.4M | $16.8M | $15.0M | $16.2M |
| Tangible book value | $14.7M | −$4.11B | $7.6M | $7.0M | $6.2M | $7.0M | $9.3M | $10.3M | $13.4M | $16.6M | $14.0M | $15.7M |
| Book value per share | $4.50 | $4.29 | $3.42 | $3.33 | $3.24 | $3.61 | $4.40 | $4.81 | $5.85 | $6.64 | $6.35 | $6.97 |
| Shares outstanding | 4.2M | 3.9M | 3.5M | 3.4M | 3.3M | 3.3M | 3.3M | 3.3M | 3.3M | 3.4M | 3.3M | 3.2M |
| Current ratio | 1.54 | 1.41 | 1.35 | 1.34 | 1.23 | 1.32 | 1.40 | 1.49 | 1.70 | 1.60 | 1.49 | 1.56 |
| Quick ratio | 1.05 | 123.20 | 0.89 | 0.85 | 0.77 | 0.83 | 0.82 | 0.86 | 0.93 | 0.85 | 0.73 | 0.76 |
| Debt / equity | 0.35 | 0.53 | 0.83 | 0.87 | 0.79 | 0.87 | 0.75 | 0.79 | 0.71 | 0.44 | 0.48 | 0.44 |
| Equity / assets | 35.2% | 32.2% | 24.5% | 23.8% | 22.0% | 22.7% | 27.5% | 28.1% | 31.9% | 35.7% | 31.6% | 34.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed June 4, 2026); data from EODHD.
OESX financial position
At the end of fiscal 2026 (March 31, 2026), Orion Energy Systems had total assets of $51.6 million (down 1.6% from a year earlier), total liabilities of $35.0 million and shareholders' equity of $16.6 million. It held $3.3 billion in cash and short-term investments against $8.8 million of debt, a net cash position of $3.3 billion. Its current ratio was 1.41. In the latest quarter (ended June 30, 2026) total assets were $53.3 million and equity $18.7 million.
Related: OESX income statement, OESX cash flow statement, OESX key metrics. See the OESX stock overview for the latest quote and news.
OESX balance sheet FAQ
What are Orion Energy Systems's total assets?
Orion Energy Systems reported total assets of $51.6 million at the end of fiscal 2026 (March 31, 2026), compared with $52.5 million a year earlier.
How much debt does Orion Energy Systems have?
Orion Energy Systems had $8.8 million of total debt at the end of fiscal 2026, including short-term borrowings. Its debt-to-equity ratio was 0.53.
How much cash does Orion Energy Systems have?
Orion Energy Systems held $3.3 billion in cash and short-term investments at the end of fiscal 2026; with $8.8 million of debt that is net cash of $3.3 billion.
What is Orion Energy Systems's book value?
Orion Energy Systems's shareholders' equity (book value) was $16.6 million at the end of fiscal 2026, or $4.67 per share.
What is Orion Energy Systems's current ratio?
Orion Energy Systems had current assets of $37.7 million and current liabilities of $26.7 million, a current ratio of 1.41 (it can cover its short-term obligations).
How much goodwill does Orion Energy Systems have?
Orion Energy Systems carried $4.1 billion of goodwill and intangible assets, 8,003.1% of total assets, at the end of fiscal 2026.